A famous retailer is now closing nearly half its stores, part of a new restructuring plan that has prompted liquidation sales.
Iconic chain Sam Ash operated 44 locations in Arizona, California, Connecticut, Florida, Georgia, Illinois, Indiana, North Carolina, New Jersey, Nevada, New York, Ohio, Pennsylvania, Tennessee, Texas, and Virginia.
The company did not make the decision to close stores lightly.
“For the last 100 years, Sam Ash Music has successfully adapted to meet the challenge of changing business conditions.
As we look towards the next 100 years, the company must continue to adapt to ensure its continued success,” Sam Ash told amNewYork Metro.
The company, which also sells through its website, wanted to make it clear that it’s not abandoning brick-and-mortar stores.
“Sam Ash Music remains committed to keeping a strong physical store footprint in the future while we continue growing our successful online sales offerings.
As part of this restructuring, the company is closing several stores nationwide.
This restructuring is emotionally tough, but we are confident these moves will make Sam Ash Music stronger as we continue serving the music community into the future, as we have for the past 100 years,” the chain shared.
Liquidation sales have begun at the impacted stores but the company has not shared specific closure dates.
For more news and updates like this, opt-in for push notifications.
Also Read: A New Wave of Unexpected Layoffs Now Hits Georgia
Other Economy News Today
A massive sports retailer is now leaving a major mall for good in just a few weeks and customers are inquiring if there will be a sale.
Dick’s Sporting Goods is due to vacate its location at the Meriden Mall in Meriden, Connecticut, around 20 miles south of Hartford.
A sign was posted outside of the store which confirmed the closing date would be April 20th, according to The Connecticut Scoop.
“We are closing,” the small notice wrote.
The note also added that it would just be the Meriden Mall location that would close and not other stores.
“Please shop at these nearby locations for all your sporting goods needs or visit Dicks.com,” the sign added.
This longtime location opened at the mall in 2005.
The economic development director for Meriden, Joseph Feest, said he was upset to hear the news.
“I’m disappointed they are leaving because they have been a staple at the mall for many years,” Feest wrote.
“I’m sorry to see them go.”
Locals and shoppers shared their thoughts on the news, including hopes for some possible discounts, under a Facebook post.
“They gonna do a clearance?” one person asked.
“If boys need stuff maybe there will be good sales,” another commenter wrote.
Other people shared why they would miss the location.
“It was so convenient, I’m so sad!!!!” one person commented.
This closure will leave just one remaining anchor store at the mall.
The retail space has faced large changes in recent years with the closing of its Macy’s, JCPenney, and Sears anchor stores.
For more news and updates like this, opt-in for push notifications.
Also Read: A New Wave of Unexpected Layoffs Now Hits Georgia
Market News Published Daily 📰
Don’t forget to opt-in for push notifications so you don’t miss a single article!
Also, thank you to all of our blog sponsors.
This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.
Scroll below to view my stock purchases this month!
You can also follow me on X (Twitter), Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.
Frank Nez’s Stock Portfolio
Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?
Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.
11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.
Leave your thoughts below.
For more news and updates like this, opt-in for push notifications.